The collective mind can change personal mind especially if that is about betting as we may think that many people already have the same choice. We may easily to follow them and will not let the chance is gone. With that choice, some people thinks that is the right time to place with a big bet because they believe that collective minds can be right and have a chance to win the bet. And that can makes a person will not want to analyze the bet but just follow what the public choose.
This is what they are counting on. Many people do not want or cannot independently analyze events. This really requires time, effort and mental capacity. I know many people who find it incredibly difficult to use the thought process, as it quickly tires them out and leads to depression. What did you think? This is a fact and it is difficult to argue with it. My colleagues told me exactly that they do not want to think, but only obey and follow the crowd. It is much easier this way.
There is a good saying:
"
To swim against the current, the fish must be strong. And even a dead fish can swim with the current."